APFC Board Welcomes Engagement in Strategic Planning Process

In Board of Trustees by Juliette Alldredge

Alaska works best when Alaskans are involved and informed; APFC is grateful for the public’s engagement in the October 30 Special Board Meeting. APFC values the public process and transparency that sets us apart as a leading Sovereign Wealth Fund.

The Board of Trustees met to explore strategic initiatives aimed at growing the Fund and enhancing corporate functionality. Trustees sought recommendations from staff and advisors to prioritize each potential initiative.

Deven Mitchell, Chief Executive Officer, remarked that he “appreciated the conversation about the target rate of return. The ability of the Board to acknowledge and rely on the professionals and consultants – that was impactful.”

Chief Investment Officer Marcus Frampton noted that he ” found the fulsome discussion that occurred during the Board meeting to be helpful. It’s important to understand the risk appetite and return objectives of our stakeholders.”

The Board agreed to maintain the long-standing target return objective of CPI +5% for the portfolio as they navigate their strategic planning process. With further vetting of concepts, the Trustees will take final action on the strategic plan initiatives during the December Board Meeting scheduled for December 13-14, 2023, in Juneau and via webinar.

Read the full press release, watch the recording, or review the packet at our revamped Meeting Information page.